It has now become much easier to trade online with the advent of the fully functional MT4 Webtrader. MT4 Webtrader makes it easier for you to study the market and also analyze the charts so as to monitor all your trades without the use of desktop! It features chart module with all the drawing tools and trading indicators and also order management functionality. It will completely replace the use of desktop that is usually required for regular trading. It is a perfect tool with all the relevant functions available. You will never get confused whenever you switch to this application from the usual desktop application. It also helps in eliminating the need for any learning curve. It provides the complete look and feel of a desktop.
Know-how to use MT4 Webtrader:
You can choose to either use the Buy or Sell buttons to automatically place your order On the MT4 Webtrader if you have enabled the one-click trading or you can even right click on the instrument of your wish and trade there. You can also click on the chart and trade from there itself by selecting the appropriate and available buy or sell options.
Types of Orders:
- Pending Orders: These can be placed by selecting the ‘New Order’ option by right clicking on the instrument.
- Market Orders: These are done in the same way as the Pending Orders, only the Buy or Sell buttons can be used from the One-Click trading. You should make sure that the order size is neither too small nor too big.
You can modify the above orders by clicking on the “Modify” icon and setting the stop loss or taking profit levels and can also close out some of the trades done. You can view the on-going open trades that you ran earlier in the trade terminal which is available at the bottom of the screen.
Usage of Charts on MT4 Webtrader:
The chart section has all the drawing tools and trading indicators with the option of switching between time frames on the chart. The different chart types can be switched between Line, Candlestick or OHLC bar charts. You can maximise the chart screen for studying the prices by using the “Expand” icon. You can customize the chart colours by clicking on the “Properties” option and selecting anyone of the three default colours that are already preset. Just make sure that the chart colour of the existing symbol is changed. You can even customize the charts by viewing or hiding the grid, showing object descriptions, etc. apart from just changing the colour.
The only limitation of the MT4 Webtrader is that you cannot use custom scripts or any indicator whenever you are accessing the trading account from this interface. Even with this limitation, the MT4 Webtrader is a very flexible browser based trading system with all the functionality of trading that makes it very easy to place trades without the use of desktop or laptop.